Earnings Per Share

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per ShareThe following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share data):

	Year Ended December 31,
	2020		2019		2018
Numerator for basic earnings per share - net income attributable
to common stockholders	$	978,844	$	1,232,432	$	758,250
Adjustment for net income (loss) attributable to OP units	(6,146)		806		173
Numerator for diluted earnings per share	$	972,698	$	1,233,238	$	758,423
Denominator for basic earnings per share - weighted average shares	415,451		401,845		373,620
Effect of dilutive securities:
Employee stock options	—		—		9
Non-vested restricted shares	519		835		512
Redeemable OP units	1,396		1,112		1,096
Employee stock purchase program	21		16		13
Dilutive potential common shares	1,936		1,963		1,630
Denominator for diluted earnings per share - adjusted weighted average shares	417,387		403,808		375,250
Basic earnings per share	$	2.36	$	3.07	$	2.03
Diluted earnings per share	$	2.33	$	3.05	$	2.02

As of December 31, 2018, the Series I Cumulative Convertible Perpetual Preferred Stock were excluded from the calculations as the effect of the conversions were anti-dilutive. As of December 31, 2019, forward sales agreements outstanding for the sale of 4,935,804 shares of common stock were not included in the computation of diluted earnings per share because such forward sales were anti-dilutive for the period